Alpari Group
   HOME

TheInfoList



OR:

Alpari Group is a multinational
foreign exchange The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all as ...
, precious metals and CFD broker with headquarters in several countries. The company's UK entity entered
insolvency In accounting, insolvency is the state of being unable to pay the debts, by a person or company ( debtor), at maturity; those in a state of insolvency are said to be ''insolvent''. There are two forms: cash-flow insolvency and balance-sheet i ...
on January 19, 2015, following heavy losses trading the
Swiss franc The Swiss franc is the currency and legal tender of Switzerland and Liechtenstein. It is also legal tender in the Italian exclave of Campione d'Italia which is surrounded by Swiss territory. The Swiss National Bank (SNB) issues banknotes and the f ...
against the
euro The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . ...
. The company is licensed to trade in: *
Belarus Belarus,, , ; alternatively and formerly known as Byelorussia (from Russian ). officially the Republic of Belarus,; rus, Республика Беларусь, Respublika Belarus. is a landlocked country in Eastern Europe. It is bordered by R ...
*
Saint Vincent and the Grenadines Saint Vincent and the Grenadines () is an island country in the Caribbean. It is located in the southeast Windward Islands of the Lesser Antilles, which lie in the West Indies at the southern end of the eastern border of the Caribbean Sea wh ...


Headquarters

The brand’s headquarters are located in Comoros. Alpari (Comoros) LTD is registered in Fomboni, Island of Mohéli, Comoros Union, number HY00423015 and licensed by the Mwali International Services Authority, Island of Mohéli as an International Brokerage and Clearing House under License number T2023236.


History

The company was established in
Kazan Kazan ( ; rus, Казань, p=kɐˈzanʲ; tt-Cyrl, Казан, ''Qazan'', IPA: ɑzan is the capital and largest city of the Republic of Tatarstan in Russia. The city lies at the confluence of the Volga and the Kazanka rivers, covering a ...
,
Russia Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the ...
, in 1998. However, it wasn't until 2002 that Alpari began expanding internationally by making its website available in English.


United Kingdom

Alpari (UK) was founded in 2004. It was regulated by the
Financial Services Authority The Financial Services Authority (FSA) was a quasi-judicial body accountable for the financial regulation, regulation of the financial services industry in the United Kingdom between 2001 and 2013. It was founded as the Securities and Investmen ...
in September 2006. The company opened and closed several branches in other countries. Alpari UK Ltd was fined £140,000 for
anti-money laundering Money laundering is the process of concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source. It is a crime in many jurisdicti ...
failings by the FSA in 2010. The firm's former money laundering reporting officer, Sudipto Chattopadhyay, was also fined £14,000. Cyprus office opened in 2010 and the CySEC license was acquired that year and renounced in December 2012. That office closed in February 2013. Alpari (UK) entered Indian market in 2008 and left India in March 2014. For UK residents, the company also offered financial spread betting on Forex and indices. On January 16, 2015, Alpari has entered insolvency following heavy losses the previous day when the
Swiss National Bank The Swiss National Bank (SNB; german: Schweizerische Nationalbank; french: Banque nationale suisse; it, Banca nazionale svizzera; rm, Banca naziunala svizra) is the central bank of Switzerland, responsible for the nation's monetary policy an ...
removed the
franc The franc is any of various units of currency. One franc is typically divided into 100 centimes. The name is said to derive from the Latin inscription ''francorum rex'' (Style of the French sovereign, King of the Franks) used on early France, ...
's ceiling against the
euro The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . ...
. On January 19, Alpari (UK) Ltd. applied for formal insolvency and the
English High Court The High Court of Justice in London, known properly as His Majesty's High Court of Justice in England, together with the Court of Appeal of England and Wales, Court of Appeal and the Crown Court, are the Courts of England and Wales, Senior Cou ...
appointed a special administrators from
KPMG KPMG International Limited (or simply KPMG) is a multinational professional services network, and one of the Big Four accounting organizations. Headquartered in Amstelveen, Netherlands, although incorporated in London, England, KPMG is a net ...
under Special Administration Regime.


Russia

Alpari-Broker Ltd. ( rus, ООО «Альпари-Брокер») was established as legal entity in September 2008 in Kazan, Russia. It was licensed as a professional participant of the equity markets for providing brokerage, dealership and money managing services by the
Central Bank of Russia The Central Bank of the Russian Federation (CBR; ), doing business as the Bank of Russia (russian: Банк России}), is the central bank of the Russian Federation. The bank was established on July 13, 1990. The predecessor of the bank can ...
. Additionally, it was an associated member of NAFD (National Association of Forex Dealers), a
self-regulatory organization A self-regulatory organization (SRO) is an organization that exercises some degree of regulatory authority over an industry or profession. The regulatory authority could exist in place of government regulation, or applied in addition to governmen ...
created by Forex brokers. Since March 2017, Alpari is a member of AFD (Association of Forex Dealers) — the only SRO accredited by the Russian central bank. On December 27, 2017, the Central Bank of Russia revoked Alpari's license (along with the license of four other FX brokers), effectively ordering it to stop its Russian operation by January 27, 2018.


United States

Alpari US LLC was established in 2006. It had its NFA membership approved in November 2007 and removed in April 2015. In April 2015, the company's US NFA membership was revoked, preventing them from offering their services in the United States.


India

In September 2022, the
Reserve Bank of India The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible for ...
(RBI), India's central bank, released a list of 34 forex trading online platforms, in which Alpari was also listed as illegal in India.


Services

The Alpari brand is present globally in 165 countries. Alpari specialises in using innovative financial tools and technical solutions to provide convenient and accessible online trading and investment services. Alpari has a long history in Forex trading - with a peak trading volume of USD 2.5 trillion in a single year. The company offers experience-based trading accounts for beginners to seasoned professionals - including ecn.mt4, standard.mt4, standard.mt5 and ecn.mt5. The brand focuses on efficiency by perfecting enabling technological advances such as its analytics tool, Autochartist. The brand has developed three trading and investment applications and continues to strive to create new systems that optimize trading efficiency. Alpari developed and introduced PAMM accounts to the financial markets in 2008, which has become an internationally recognized product. Alpari currently has a user base of 2 million, making it one of the largest Forex brokers in the world.


Regulations and licensing

Alpari is incorporated under registered number 20389 IBC 2012 by the Registrar of International Business Companies, registered by the Financial Services Authority of Saint Vincent and the Grenadines, and is a member of The Financial Commission - an international organization engaged in the resolution of disputes within the financial services industry in the Forex market.


Founders

The company was established by Andre Dashin, Chairman of the Board of Directors. Andrey Valerievich Dashin owns both Alpari and another foreign exchange broker FXTM, also known as ForexTime.


The Alpari Charitable Fund

The Alpari Charitable Fund was founded in 2005 by Andrey Dashin with the goal of helping children from the
Republic of Tatarstan The Republic of Tatarstan (russian: Республика Татарстан, Respublika Tatarstan, p=rʲɪsˈpublʲɪkə tətɐrˈstan; tt-Cyrl, Татарстан Республикасы), or simply Tatarstan (russian: Татарстан, tt ...
to reach their full potential regardless of their socio-economic background or mental and physical disabilities. In 2018, the Alpari Charitable Fund provided a total of 29.4 million rubles in of support to residents of Tatarstan. In the first half of 2019, a total of 24.9 million rubles was provided in support to beneficiaries in Tatarstan.


References

{{Online brokerages Financial services companies established in 1998 Foreign exchange companies Financial derivative trading companies Online brokerages Defunct financial services companies